Analyzing the effect of transactions

 

Purpose of Assignment 

The purpose of this assignment is to help you become familiar with examining transactions and how it affects the balance sheet. 

Assignment Steps 

Resources: Financial Accounting: Tools for Business Decision Making 

Write in sentence format a response to each of the following scenarios from Exercise E3-1 in Financial Accounting (p. 132) describing the effect of each transaction on assets, liabilities, and stockholder’s equity: 

  • Selected transactions for Thyme Advertising Company, Inc.
    • Issued common stock to investors in exchange for cash received from investors.
    • Paid monthly rent.
    • Received cash from customers when service was performed.
    • Billed customers for services performed.
    • Paid dividend to stockholders.
    • Incurred advertising expense on account.
    • Received cash from customers billed in (4).
    • Purchased additional equipment for cash.
    • Purchased equipment on account. 

Use the Excel® spreadsheet to record your answers and submit your responses.

 

 

E3-1 Selected transactions for Thyme Advertising Company, Inc. are listed here.

    Issued common stock to investors in exchange for cash received from investors.
    Paid monthly rent.
    Received cash from customers when service was performed.
    Billed customers for services performed.
    Paid dividend to stockholders.
    Incurred advertising expense on account.
    Received cash from customers billed in (4).
    Purchased additional equipment for cash.
    Purchased equipment on account.

Instructions

Describe the effect of each transaction on assets, liabilities, and stockholders’ equity. For example, the first answer is (1) Increase in assets and increase in stockholders’ equity.

Analyze the effect of transactions on assets, liabilities, and stockholders’ equity.

 

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

STAY HOME, SAVE LIVES. Order your essay today and save 20% with the discount code ATOM